SD (Manager) 13 July 2013
We are four members in our family, My father, mother, one brother and me (unmarried daughter). my father and brother bought a joint property with my dad being the first owner.My brother however took a loan to fund 40 % of it. The bank asked me to sign an NOC. I was told this is just a formality to get the loan. But I have my concerns. What is the implication of me signing the NOC?
Nishant (Lawyer) 13 July 2013
depends on what is written in NOC ...
you are legal heir , bank can ask you for loan refund ...
SD (Manager) 17 July 2013
I spoke today to the loan representative. He says it says I have no liability in the house. I asked him if I am a legal heir or no , but he refused to answer.And when I asked for a copy of the NOC he is trying to make it complicated by telling me I need to take it from the bank and it is chargeable. My brother and dad also dont have a copy , so I just have the word of the agent on this. Can I go and ask the bank for the NOC? I dont expect any cooperation from my brother or Dad
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